‘Little by little a man walks far’, an adage not too popularly known yet a concept that is a universal truth, particularly when talking about the growth of your finances. Unfortunately, ignoring this very valuable piece of advice, most people wait to have enough extra balance in their bank accounts to make an investment. Ali Ata, an individual of in-depth knowledge on managing finances, is of the opinion that there is no need for one to wait to gather a big capital in order to invest.
Just like every drop adds to the water in the ocean so does investing your spare changes add to the health of your finances. This revolutionary means of achieving this goal is known as ‘micro-investing’. Recent statistics reveal that the rate of investment among young people has accelerated considerably through investment vehicles that are rather affordable, namely, Exchange Traded Funds (ETF).
If you prefer low-interest rates and are not too keen on building an elaborate investment portfolio then micro-investing is the best thing for you. However, it is very important that you read the investment terms and conditions very closely and carefully before making the investment since every investment provider has different clauses.
Ali Ata and other professionals such as him in financing will be able to guide you into availing of this practice by informing you that this can be done on a micro-investment platform. This is nothing but an application that helps anyone invest a very tiny amount of money regularly. The basic mode of operation of these platforms is that they take money after rounding off from transactions and investing them in ETF accounts.
The imagery that can best explain this form of investment is putting the changes that you have received after a transaction into a jar or a piggy bank. It is as simple as investing the extra money after a payment. The added benefit of this is that you do not need to pay a brokerage fee or even a fee for every transaction. It is surprising to see that by adding on pennies on these platforms in the form of fractional shares.
The apps use the simple means of adding money to your account by using up the change left, say after buying a cup of coffee for $4.5. The platform rounds off the payable amount to $5 and invests the extra money into the market. The more frequently you use these apps the more you accumulate as your investment.
In Australia, this trend is catching up really quickly and some such commonly used platforms Alia Ata recommends include: Spaceship, Frist step, Raiz, and Sharesies. This definitely is an absolutely hassle-free method of investing money and adds more health to your finances.
The customer’s investments are made immune from market risks owing to the fact that they are spread over a diverse range of bonds and stocks with the help of these micro-investment platforms as is vouched by people like Ali Ata. This is an absolutely unique and wise means of making your savings without pinching your pocket.